We have successfully enabled access for GCash to our microloan borrowers. This was part of our digital initiative. Mobile banking in rural areas where we help people is not as common as for in the western world. So, what is GCash? GCash is a mobile financial service. With GCash we can enable access to banking, having an account and initiate money transfers for our microloan borrowers. During the ongoing pandemic and the enforced lockdowns, it is very hard for our small business entrepreneurs to continue their business. It is hard during thse times to not only receive the money for sold products but also to pay for their suppliers. GCash supports our small business entrepreneurs with providing a cashless mobile alternative.
12 of our microloan programme participants in the Philippines use GCash now. All of them are thankful for using GCash as it at least makes some things easier during this time of hardship. GCash is not only for making transferring money easier but also provides security for users without being a sophisticated alternative to cash. An example for its beneficial users is the story of Jaqueline. She opened her own small shop where she sold snacks and deep-frozen goods. Due to the Covid19 pandemic and the lockdown measures, it was impossible for Jaqueline to have customers in-person in her shop. Thanks to our help in cooperation with our partner organization in the Philippines named Project Life Subic, Jaqueline was able to transfer her business to the internet and handle payment with GCash. She was not only able to continue her business but also grow the number of customers while having security. Jaqueline is happy to use GCash and run her business.
It is not only Jaqueline´s story but all other microloan participants benefit from using GCash. The use of the internet increases the customer size while making transfers is done from anywhere. We ensure the safety of GCash as the use of it bears risks e.g. fake advertising or phishing. Our partner organization in the Philippines Project life Subic supports GCash users with safety tips and counselling for its safe and reliable use.